Born in Oakley, Idaho on January 5, 1910, H.M. Peterson only began a railroading career upon the completion of his college education in Salt Lake City, UT when the Western Pacific offered more pay that other job offers. He worked between Utah and California eventually working under H.J. Beem.

When Beem was approached to take over as Vice President and General Manager behind Hickey, Beem made the condition that Peterson could come with him. Moving to Ely in 1935 he served as Chief Clerk and later Trainmaster.

In 1952 he was promoted to General Superintendent upon Beems retirement. As General Superintendent he was tasked with planning the celebrations for the 50th Anniversary of the arrival of the railroad to Ely, bringing locomotive #40 back into service for the day to pull special passenger trains.

This launched a second career for the locomotive as an excursion engine. Peterson also purchased EMD SD7 #401 for the railroad. Referred to as “Pete’s Pet” the locomotive was washed and waxed weekly.

Peterson responded to dozens of requests by organizations and individuals wanting to purchase the historic equipment including #40 and the rotary snow plow. He flatly refused in every instance. His balance between modernization of the railroad and the preservation of the artifacts is widely credited as the foundation for the NNRy Museum.

Retiring in 1975, Peterson moved to California and then Hawaii where he passed away April 28, 2008. An avid hunter and fisherman, he was also heavily involved in local civic organizations and local government. His story is told in his memoirs Memories of the Ely Route published by the NNRy Museum.